QuickBooks, in the world today is synonymous with digital accounting. If you are using the program then there are more voiding entries than throwing papers in the trash. If you don’t know record and enter a Voided Check in QuickBooks then follow along.
There is one thing best about putting finances on the cloud and it’s their easy accessibility. You can get your finances readily available when and wherever you need them. For any modification, well that can be done on the go.
Ways you Can Record a Voided Transaction in QuickBooks
There basically are two ways you can record a voided transaction in QuickBooks, these include:
- How to void or reissue a check in QuickBooks,
- How to enter a voided check in QuickBooks.
If you have a check that needs to be voided then you should have a check entry in the first place. Assuming that you have a check transaction then follow the steps on how to void a check in QuickBooks.
Steps to Void a Check Already Recorded in QuickBooks
Follow these 8 easy steps and you will be able to void your already recorded entry with ease.
- Login to your QuickBooks dashboard,
- From the far left side of your displayed screen, click on the accounting section.
- Now, choose COA from the navigation pane.
- Choose the bank account tab and select your desired bank.
- Choose the check entry that needs to be voided. This you can do by clicking on the view registers tab.
- Click on the little pencil icon and you will see an editable window.
- Scroll down to select the more option and hit the void button.
- You will see a confirmation message appearing, click yes and your entry will be successfully voided.
How to Enter a Voided Check in QuickBooks
If you want to enter a voided check for the sake of maintaining records within QB, then the following steps will help you do that:
- Record a check entry as you normally do. Click on the (+) icon.
- Select check from the predefined options.
- A new window will now appear. Provide all the info related to a check, this will include your:
- Bank account,
- The date at the time of writing a check,
- Check number,
- Your own account from which the check will be withdrawn etc. Don’t worry, you can supply the account number from any bank as this will be a voided transaction and will have zero effect on your balances.
- Scroll down to the bottom of your screen and click on the More option.
- Choose to click on the void tab.
- Click yes to the warning message and you will be all good. Pat your back as you have successfully entered a voided check.
Please make sure that you have voided an entry on the current date. What if you have an entry or check that needs to be voided in another period. Well, if that’s the case then follow the below-given steps:
Void an Entry in a Different Period
- From the transactions menu, choose an entry that you need to void and click on the edit button.
- From the bottom of your screen, choose the more tab and then finally select the transactions journal button and print your report.
- Now choose the (+) sign button and click on the journal entry.
- Provide the date you want to show your entry as reversed.
- Pass a journal entry to reverse the debit & credit effect of your original entry. In order to do that, use the printed transaction report, we created in the previous steps.
- Save your preferences and your transaction will be successfully reversed.
You have only reversed your entry and not cleared it. Thus you would need to reconcile in the next reconciliation. In order to clear your entries from the registers, just follow along:
- From the left side menu on your screen, click on the accounting option.
- Choose COA from the top navigation menu.
- Select your desired bank and choose the view registers tab.
- Locate the transaction your originally created and double the tab on the reconciled column and enter “C” in the field. The “C” letter will signify if the reconciled entry is now clear or not.
- Save your settings and reverse your entry again. Once that’s done you will be able to successfully void your transaction in a different period.
Hope your query “How to enter a voided check in QuickBooks” has been resolved. If you are facing an issue record and enter a voided check in QuickBooks even after following all the steps above then we would request you to get help from our QuickBooks experts. Our QuickBooks Experts in Canada will help you void a check-in close period and provide you with an instant solution.